General Aviation Market - MTOW 3000Kg + - Opportunities, trends and Challenges (2018-2023)
Aviation is the art of aeronautics which includes building, operating machines which can take flight. There are basically two broad categories of aviation Civil Aviation which includes both General Aviation and Scheduled air transport and military aviation.
The General Aviation sector is showing tremendous growth due to growing interest of the general public. Another factor is the growing number of millionaires. The numbers of millionaires in the world are rising at a tremendous pace. The number of millionaires in the world increased by more than 13% in 2015, as compared to 2014, taking the total number past 17 million mark. In China alone, the number rose by 25% in 2015, only second to the United States. It is projected that the millionaire population would contribute half of the world’s income by 2019. This statistic presents a tremendous opportunity for the players of General Aviation Market, with Asia Pacific Region witnessing huge growth over the forecast period on account of rising number of millionaires and high growth economies of India and China.
United States accounted for more than half of the General Aviation Aircraft sold across the world .India and China have huge potential to be future market leaders and that would drive the demand for general aviation aircraft’s over the coming years.
The penetration of rotary wing in civil aviation though quite substantial in North America, Europe and in certain countries of Latin America is negligible in countries such as India where the lack of connectivity and airports make helicopters very useful. One of the reasons for that are strict and unrealistic regulations and laws. But once they are relaxed India offers a huge opportunity for the Rotary Wing Sector. Currently Sao Paulo is considered as the helicopter capital of the world due to the presence of one of the highest number of helicopters per capita in the world.
Turboprops are one of the most important components of the general aviation aircrafts. This segment is showing impressive levels of growth in the fast growing Asia-Pacific region, although the growth has stagnated in North America, which holds more than 50% share of the turboprop market currently. The number of annual shipments of turboprop aircraft is expected to rise to 697 units by 2020, and the Asia-Pacific region will contribute close to 1/3rd of the market share.
The Cessna 208 is the most popular turboprop aircraft and is expected to sell close to 100 units in the current year.
Asia Pacific will be the fastest growing market for Turboprops, whereas they would register a sharp fall in the North American and European market as the markets reach the saturation point there.
Led by India and China, the turboprop market will grow at a CAGR of 2.44% until 2020.
Business jets are one of the most important components of the General Aviation Market. This segment was worth $21 billion in 2014. The three broad categories of business jets are Large Cabin, Medium and Small Cabin Jets.
There will be a fall in the market share of North America in 2020, a region which holds more than half of the Business Jet Market. That share will be captured by Asia Pacific and Latin America who will be the fastest growing regions in the world. The growth will be led by markets such as Brazil, Mexico, India and China.
The aircraft in this category include a wide array of aircraft, and it is this category which will define the performance of the Aviation sector in the years to come.
The global aviation market was affected adversely by the financial crisis and in some places like India still hasn’t recovered but with the worst behind it is expected to boom and offers massive opportunities to all the players involved.
What the report offers
1. Market analysis for the Global General Aviation Market MTOW-3000+ Kg, with region specific assessments and competition analysis on global and regional scales
2. Market definition along with the identification of key drivers and restraints
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
4. Extensively researched competitive landscape section with profiles of major companies along with their market shares
5. Identification and analysis of the macro and micro factors that affect the global general aviation market- mtow 3000+ kg on both global and regional scales
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
8. Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
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